Cost of Living in Minneapolis
Overall index: 104.8 — 11 points above Minnesota average. Minnesota statewide average: 93.6.
Where your money goes in Minneapolis
Estimated spending breakdown on a $75,000 salary in Minneapolis
Estimated annual spending: $67,448($7,552 remaining)
What things cost in Minneapolis
| Item | Minneapolis | Minnesota avg | US avg |
|---|---|---|---|
| Median home price | $370,000 | $330,000 | $360,000 |
| Average 2BR rent | $1,500/mo | $1,128/mo | $1,400/mo |
| Gas (regular) | $3.26/gal | $3.26/gal | $3.50/gal |
| Electric bill | $109/mo | $109/mo | $137/mo |
| Infant childcare | $24,000/yr | $22,569/yr | $13,500/yr |
Index by category
Minneapolis vs Minnesota statewide. National average = 100.
FAQ
What is the cost of living in Minneapolis?
Minneapolis has an overall cost-of-living index of 104.8 (national average = 100). This is higher than the Minnesota statewide average of 93.6. Median home prices are $370,000 and average 2BR rent is $1,500/month.
Is Minneapolis expensive to live in?
Minneapolis is near the national average with an index of 104.8.
How much does rent cost in Minneapolis?
Average 2-bedroom rent in Minneapolis is $1,500/month, compared to the national average of $1,400/month and the Minnesota statewide average of $1,128/month.
What salary do I need to live in Minneapolis?
A $75,000 salary at the national average cost of living is equivalent to $78,600 in Minneapolis. Your money goes about as far or further than the national average.
Where does this data come from?
Metro-level data combines BEA Regional Price Parities (2024), C2ER COLI metro indices (2025), Zillow ZHVI/ZORI metro data (2024-2025), and state-level data from MERIC, AAA, EIA, and Child Care Aware.
Related tools
- Minnesota Cost of Living — Statewide averages and all metro areas
- Minnesota Paycheck Calculator — Calculate take-home pay
- House Affordability in Minnesota — How much house can you afford?
- Compare any two states
Metro-level data from BEA Regional Price Parities (2024), C2ER COLI (2025), and Zillow ZHVI (2024-2025). Where metro data is unavailable, Minnesota statewide averages are used.